That is separate from the nearly $6.1 million the City plans to spend for the 10-year lease, if it also exercises an optional five-year extension. Rod Bolger, chief financial officer, made $4.4 million in total compensation in 2018, up from $3.7 million the year before. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. While Ontarios Municipal Property Assessment Corporation values 233 Carlton at just $2.26 million for tax purposes, the City says the property was not offered being offered for sale. var CurrentYear = new Date().getFullYear() The building is now occupied, in part, by a store that repairs laptops and sells electronics. If you do not yet have a Torstar account, you can create one now (it is free), Copyright owned or licensed by Toronto Star Newspapers Limited. Scotiabanks Ignacio Nacho Deschamps received the most among all executives with C$12.75 million in compensation as group head of international banking and digital transformation though that included a C$5.7 million sign-on award. The estimated additional pay is $183,202 per year. According to WE Charity, a real estate agent hired by the City approached Fred and Theresa Kielburger regarding 233 Carlton Street, which they own through a numbered company. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. Royal Bank of Canada said on Tuesday that it had promoted Jennifer Tory to head of its personal and commercial banking business, replacing Dave McKay, who will become chief executive officer later this year. Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. "Jennifer's depth of experience in retail and commercial banking ideally positions her to take on leadership of approximately 35,000 employees who are committed . Jennifers depth of experience in Retail and Commercial banking ideally positions her to take on leadership of approximately 35,000 employees who are committed to serving the needs of our clients. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. $139,667 / yr. RBC. Free Tools . Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. WE told the National Post that Fred and Theresa Kielburger had purchased the property at the foundations request because the organization did not have sufficient funds at the time and then sold it to the foundation for the same price they had paid. presentation-ready copies of Toronto Star content for distribution $60,499 / yr. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. Client Associate salaries - 39 salaries reported. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. He has advised many of Canadas top companies on mergers and acquisitions (M&A) and has experience working for family-controlled companies, having represented the Woodbridge Company and its subsidiary Thomson Reuters on a number of transactions. The next issue of Financial Post Top Stories will soon be in your inbox. 1978-2019. At the time, he was leader of the Progressive Conservative Party of Ontario. WE says Fred and Theresa did not receive a tax receipt for either agreement. Unauthorized distribution, transmission or republication strictly prohibited. 2011-2021. Jennifer Tory received about $4.5-million during her first full year as group head of personal and commercial banking, about double her compensation in 2014, when she was regional president of. There are other women executives at Canadian financial firms who dont get named in regulatory filings but hold senior roles and more are increasing in the ranks. This city might have the strongest housing market in Canada, BMO gets green light to buy Bank of the West in biggest deal ever for Canadian bank, A mental health crisis in Canada is fuelling billions in losses for employers, tap here to see other videos from our team. There was an error, please provide a valid email address. A request that the bank create a new technologies committee. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. TORONTO, July 29, 2020 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust (Allied) (TSX:AP.UN) announced today that Jennifer Tory has been appointed as a trustee of Allied (a Trustee) by the Trustees. Her determination to identify talent early, proactively develop, and publicly sponsor individuals make Ms. Tory a role model, and her practices are a guide for her colleagues and other business leaders. Having started her career with the Royal Bank of Canada in 1978, Ms. Tory held successively senior leadership roles, including as Group Head, Personal & Commercial Banking responsible for RBC's banking businesses in Canada and the Caribbean from April 2014 until May 2017. Douglas Guzman, group head of RBC Wealth Management and RBC Insurance, made $7.5 million in total compensation for fiscal 2018, up slightly from $7.4 million in 2017. After more than a decade of leadership positions within the company, Pavi Binning has decided to retire from his role effective Jan. 1, 2022, Wittington said in an emailed statement Tuesday. What correction? They are still in the minority when it comes to the top executives: only nine, or 21 percent, of the 43 named executives at the eight banks are women, according to regulatory disclosures. Prior to her current role, Jennifer was Group Head, Personal & Commercial Banking responsible for RBCs banking businesses in Canada and the Caribbean, including personal and financial services, credit cards and payments, digital solutions, as well as RBCs sales and branch distribution, operations and advice centres. FP Answers aims to find the information you need, RBC names Jennifer Tory as head of retail bank, Get ready for another rate hike: What economists are saying about the inflation numbers, 4 ways the wealthy can make a dent in a large tax bill, Posthaste: Correction? 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Have a question? Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). Under Mr. McKay's leadership, RBC's profit topped $10-billion in 2015 and eclipsed Toronto-Dominion bank in terms of total assets in the first quarter of this year a notable achievement given that one of RBC's strategic goals is to be Canada's "undisputed leader in financial services.". In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. A search late last week showed just three properties in their names, estimated at a quarter of that. Client Advisor salaries - 258 salaries reported. Find contact's direct phone number, email address, work history, and more. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. permissions/licensing, please go to: www.TorontoStarReprints.com. WE says the brothers and the mayor have a relationship built on their mutual commitment to public service, but there is no social or otherwise personal relationship.. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBC's success. $55,284 / yr. Education. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. Ms. Tory is the Chair of Sunnybrook Hospital Foundations Capital Campaign, and sits on the Boards of Directors of the Toronto Board of Trade and the Toronto International Film Festival. Management resources and compensation committee. In another connection to Rogers, Jennifer Torys brother John was a long-time executive at the company before entering politics and is a trustee of the Rogers family trust. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. TIFF. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. David mckay rbc salary - gkeb.mdfmodels.de . to colleagues, clients or customers, or inquire about Graduated. personal and corporate concierge company, How a scarcity mindset leads to infighting between marginalized groups. She is Chair, Toronto International Film Festival Board and sits on the Sunnybrook Hospital Foundation Board; Jennifer is also a fundraiser for several other charitable organizations including WE (formerly Free the Children) and United Way. Bay Streets highest-paid female banker set a new benchmark for women executives in the banking industry though their ranks among the top wage earners remain thin. Five of the 12 board nominees this year are women, or 42%. The City said renovations have not started yet. I am delighted that she will be joining our Group Executive team and I know that we will all benefit from her knowledge, ideas and strong client focus.. Having started her career with Royal Bank of Canada ("RBC") in 1978, Ms. Tory held successively senior leadership roles, including as Group Head, Personal & Commercial Banking responsible for . Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. The property is currently assessed at just under $2.3 million for tax purposes. From August 2010 to September 2018, WE used the building rent-free, which WE says represented $702,900 in foregone rental income. Comments may take up to an hour for moderation before appearing on the site. Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canadas major cities and (ii) network-dense urban data centres in Toronto that form Canadas hub for global connectivity. RBC said Ms. Tory will be responsible for the strategy and performance of the business, which include the banks personal banking operations and certain retail investment businesses in Canada, the Caribbean and the U.S., as well as RBCs commercial banking operations in Canada and the Caribbean. Ms. Tory is a director of BCE and Bell Canada board since April2021. WE says that Marc Kielburger, representing his parents, also spoke to City staff about the 12,754-square-foot building, seeking greater clarification on the proposed use of the site.. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. We employ approximately 79,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 44 other countries. The most she received in one year was C$4.96 million for 2014. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts for pay over the years. Currently working as Regional President, Toronto at RBC in Ontario, Canada. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. Ms. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. TORONTO, February 25, 2014 - Royal Bank of Canada (RY on TSX and NYSE) announced today that Jennifer Tory has been appointed Group Head, Personal & Commercial Banking. In particular, she assisted in the development of the components related to women, visible minorities, and newcomers to Canada. I am delighted that she will be joining our Group Executive team and I know that we will all benefit from her knowledge, ideas and strong client focus, said Gord Nixon, President and Chief Executive Officer. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. Its not far off market [rate], although I would want to be able to look at the inside to see if its a high-quality space, says Matt Wood, a real estate agent based in Cabbagetown, who specializes in commercial properties. As she does at RBC, Ms. Tory challenges these organizations to advance women and visible minorities in order to generate results by reflecting the populations they serve. Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. Douglas McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 2014. A representative then handled the deal on the Kielburgers behalf. The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. What correction? Women also populate the CEO level and senior ranks at the countrys credit unions, including Vancouver City Savings Credit Union, headed by Tamara Vrooman. BCE, Canadas largest communications company, also said it has nominated Jennifer Tory, retired Royal Bank of Canada executive and sister of Toronto mayor John Tory, to its board. BCE is boosting the diversity of its board with the appointments of Tory and Wright, who is one of a small number of Black partners at top corporate law firms in Canada. Unauthorized distribution, transmission or republication strictly prohibited. $72,093 / yr. We encountered an issue signing you up. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. All Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. Its pretty middle-of-the-road of the Toronto lease market.. $84,613 / yr. Director salaries - 231 salaries reported. If you don't see it, please check your junk folder. Victor Li, the CFO for WE Charity and ME to WE, assisted the Kielburger parents in setting up both numbered companies. Visit our Community Guidelines for more information and details on how to adjust your email settings. One of RBCs core values is diversity for growth and innovation, and Im fortunate to be part of an organization that believes in championing women and supports efforts to move the bar in senior leadership representation. Prior to this role, she was Group Head, Personal & Commercial Banking, leading RBCs retail and commercial customer businesses and operations in Canada and the Caribbean from2014-2017. She is an experienced change leader who has led transformational initiatives in multiple areas of Canadian Banking, improving the client and employee experience while delivering efficiencies. 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